About

Previous Enterprise

 

GoldOz Limited was formerly New Energy Minerals (ASX:NXE), with global interests in the Caula vanadium/graphite project and the Montepuez ruby project in Mozambique on the south-east coast of Africa.

 

In February 2019, NXE announced the divestment of the Company’s remaining 50% shareholding in the Caula vanadium/graphite project, and entered into a binding Share Sale and Purchase Agreement (SSPA) with Auspicious Virtue Investment Holding Limited for the sale by NXE of all its remaining shares in Balama Resources Pty Limited, the subsidiary company through which it held its interest in the Caula vanadium/graphite project.

 

NXE also entered into an agreement with Fura Gems Inc. (TSXV:FURA) to divest its interests in the Montepuez ruby project.

 

 

A New Direction

 

New Energy Minerals is currently exploring new project opportunities in Australia and internationally, and as part of this endeavour has identified the Hurricane Antimony Project in the Hodgkinson Basin Region of far northern Queensland as worthy of renewed effort and exploration.

 

It is seeking, with Shareholder approval, to rebrand the Company as GoldOz Limited.

The Project Area, under approved granted tenure, namely EPM19437, EPM25855 and EPM27518, is located within the corridor that defines the Queensland governments ‘New Economy Minerals Initiative’ that was announced in November 2019. This initiative identifies:

 
  • Gold as a strategic critical metal that is listed as a New Economy Mineral, and
  • Antimony as a strategic critical metal that is used to support the transition to a renewable energy future in battery technology, to provide backup and storage and to improve the performance of photovoltaic solar panels. Other uses for antimony include flame retardant applications, plastics, glass and ceramics, and it is ranked the No.1 critical metal in the world most at risk of supply. The governments of the USA, EU, Japan and Australia all list it as a critical mineral.

Historical exploration and mining activity in the Hodgkinson Basin region has been concentrated along the easily accessible regional faults, known as the Retina Fault and the Hurricane Fault. And, the corridor between these regional faults was referred to in the 1980’s as The Prospective Corridor.

 

It is within this Prospective Corridor that the Hurricane Antimony Project sits.

 

It is the Company’s belief that the historical exploration tenures never fully established the full extent of the Project Area – and because it sat within the difficult terrain of the Hurricane Range – was under explored, and opportunities for successful extraction missed.

 

This is GoldOz Limited’s new direction.

There are a number of indications that support the Company’s enthusiasm for this Project, and some of these are:

  • A newly structured management team with proven experience and the strong skill-sets needed to deliver objectives,
  • The location of the Project being within the critical metals ‘New Economy Minerals’ corridor,
  • Already identified target deposits containing the critical metals of gold and antimony,
  • The potential it has with an increased regional exploration effort because of its past history of under-exploration,
  • A range of new discoveries made since tenure was granted in 2014,
  • The exciting potential it has to increase Australia’s antimony economic mineral resources by up to 20%,
  • The promising preliminary metallurgical test work done at some locations to date, and
  • The ‘Landholder Conduct and Compensation Agreement’ in place to 03 January 2021, as well as the ‘Cultural Heritage’ arrangements having been negotiated.

 

In addition to the above key strengths, more inclusive historical timeline data, exploration information and a staged JORC Drilling Strategy to target 6.0Mt and 600,000oz eq. resource is detailed in the Hurricane Antimony Project Report which can be viewed and/or downloaded here.

 

The vision therefore is for GoldOz Limited to transform the multiple gold and gold antimony prospects that lie within the Prospective Corridor – those either previously undiscovered, or considered ‘too small to worry about’ – into a consolidated New Economy Project.

 

The graph that follows gives a clear indication of how both the purpose and value of antimony has changed in recent years since it has been identified as a critical renewable energy metal.

This new direction for the Company shows great potential, and with it comes an invigorated team with enormous enthusiasm.